Dispute Resolution Mechanisms

Dispute Resolution Mechanisms are processes used to resolve conflicts between parties without resorting to traditional court litigation. They include methods like negotiation, where parties discuss their issues directly; mediation, where a neutral third party helps facilitate a solution; and arbitration, where an arbitrator makes a binding decision. These mechanisms aim to be faster, more cost-effective, and less formal than court procedures, allowing for more flexible resolutions that can better meet the needs of all parties involved. They are commonly used in business, family, and community disputes.